Prime US REIT Completes \$550M Financing, Eyes Deleveraging and Occupancy Gains

Key Highlights:
Prime US REIT has completed a $550 million financing, a testament to lenders’ confidence in the quality of the REIT’s assets 4
The REIT’s financial position has strengthened, with aggregate leverage at 46.7% and $105 million in debt headroom to reach the 50% limit 7
Portfolio occupancy stands at 80%, with the REIT signing 592k sq ft of new and renewal leases in FY2024, up 1.9% year-on-year 9
The REIT’s portfolio valuation increased 2.2% year-on-year to $1.35 billion, with 11 out of 13 assets recording higher or same occupancy 6
Management is focusing on driving occupancy, maintaining asset quality, and managing leverage, while eyeing a return to acquisitions 23
Potential Price-Sensitive Information:
Completed $550 million financing, strengthening the REIT’s balance sheet and liquidity 4
Positive leasing momentum, with 592k sq ft of new and renewal leases signed in FY2024 9
2.2% year-on-year increase in portfolio valuation, indicating strong asset performance 6
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Investors should conduct their own due diligence and seek professional financial advice before making any investment decisions.

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